HVB Makes Bid for Kirch's Stake
In Publisher Axel Springer Verlag

FRANKFURT -- German bank HVB Group has made an offer to acquire Leo Kirch's 40% stake in Axel Springer Verlag AG, Europe's largest newspaper publisher.

Mr. Kirch has yet to approve the sale, expected to total about one billion euros ($877 million), and other bidders could emerge, including Bayerische Landesbank, people familiar with the situation say. HVB is understood to view taking a stake in Springer, publisher of the powerful...